BAKU, Azerbaijan, May 16. The Asian Development Bank (ADB) is considering the State-Owned Financial Institutions Commercialization and Sustainability Enhancement Program involving Azerbaijan, Trend reports via the Bank.
The project will be financed by the Technical Assistance Special Fund in the amount of $400,000 and Financial Sector Development Partnership Special Fund totaling $100,000.
The regional technical assistance program will support research and development to achieve a greater understanding of the commercialization and bankability of state-owned financial institutions (SOFIs), across key markets in the Asia and Pacific region; and enhance SOFIs' institutional capacity to access commercial financing from the Asian Development Bank, cofinanciers, and other private sector providers. The TA will focus on positioning ADB as a partner in driving forward the financial sustainability and commercialization of strategic SOFIs, and in doing so enable more SOFI-related commercially oriented investment opportunities in the region.
The project also covers Afghanistan, Armenia, Bangladesh, Bhutan, Brunei Darussalam, Cambodia, Cook Islands, Fiji, Micronesia, Georgia, India, Indonesia, Kazakhstan, Kyrgyz Republic, Kiribati, Lao People's Democratic Republic, Malaysia, Maldives, Mongolia, Myanmar, Nauru, Nepal, Niue, Pakistan, Palau, Philippines, Papua New Guinea, China, Marshall Islands, Samoa, Solomon Islands, Sri Lanka, Tajikistan, Thailand, Timor-Leste, Turkmenistan, Tonga, Türkiye, Tuvalu, Uzbekistan, Vanuatu and Viet Nam.
